Wednesday, 18th September 2013 | First Citizens Bank traded 23,952 units valued at $801,194 as the price hit another 15 percent maximum price movement, the third consecutive day the stock activated the circuit breaker.

Importantly there are 1,272,755 units to buy at the closing price of $33.45, which was up $4.36 for the day. Although the advance decline ratio was positive as 6 advanced and 2 declined, it was the movement of First Citizens stock that was behind the gain of the All Trinidad & Tobago index by 23.24 to 1,886.79.

Upward price momentum seems to be in favour of First Citizens as demand remains intact. However, First Citizens’ PE ratio at 22.3 times this year’s earning is now close to Scotiabank, while Republic Bank is way down at 15 times. Rational investors will take these factors into consideration when investing. The PE suggests that a short term top is not too far off. IC Insider had projected $35 but that seems a bit conservative based on what has happened to date and the lack of offers in the market so far. This is one worth watching.

Trading accounted for stocks of 11 companies changing hands as 616,236 units traded for a value of $2,479,793.

Jamaica Money Market Brokers continue to be in demand trading 514,481 shares for a value of $257,241; Jamaica’s Scotia Investments contributed 25,000 shares for $50,000 as the stock closed down 5 cents to close at $2. Sagicor Financial Corporation added 13,629 shares valued at $94,841. Scotia Bank gained 2 cents to $70.04 a new 52 weeks high as it traded 11,743 units; Guardian Holdings moved up 2 cents to $14.52 on 2,350 shares changing hands. Trinidad Cement inched up 2 cents to $2.02 but with just 4,000 units and Angostura Holdings traded at a new 52 weeks high of $10.01 but with just 500 units trading. Clico Investment Fund traded 18,375 shares valued at $396,063 as the price inched down a cent to end at $21.55.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator showed that there were bids for 4 stocks being higher and 2 stocks with offers lower than their last selling price.

Related post | First Citizens off Buy Rated list

Tuesday, 17th September 2013 | There was only trading in 20 units of the newly listed First Citizens Bank (FCB) but that was all that was needed to push the price to an all time high of $29.09. The price movement triggered the circuit breaker again, as it did on Monday, the first day of trading for the stock.

The price movement helped the all Trinidad & Tobago Index to climb 1 percent or 20 points to 1,863.55. At the end of trading there were 2,224,089 FCB shares on the bid to buy at $29.09 and there were no shares on offer as happened on Monday. The stock can trade as high as $33.45 on Wednesday. IC Insider’s initial forecast that it will hit $35 in this run up seems much closer now than before the start of this week. At the current price, the PE is 19.4 times this year’s earnings. Scotia Bank is at 22.50 times earnings presently, which means that if the FCB PE gets to that level, the price would be $34, a nice 54 percent gain in a few days from the issue price of $22. Meanwhile, another stock with appreciation potential, Trinidad Cement, claimed back the $2 level as the price rose today by 5 cents to close at $2 with 10,000 shares.

Trading took place in 13 securities as 3 advanced, 2 declined and 5 traded firm as 732,197 units traded at a value of $2,920,110. Jamaica Money Market Brokers had 618,901 shares changing hands for a value of $310,611 with the price closing firm at 50 cents. Jamaica’s National Commercial Bank traded a volume of 40,644 shares for $46,741 firm at $1.15. Neal & Massy Holdings contributed 24,578 shares with a value of $1,376,496, the price lost 10 cent to close at $56. Republic Bank traded 4,033 units at $110.04 up 2 cents. First Caribbean International Bank fell $1.00 to close at $6.75, a new 52 weeks low with just 1,029 units trading.

Clico Investment Fund share price remained unchanged to close at $21.56, with a volume of 31,084 shares valued at $670,094.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator continues to show signs of a fluid market with bids for 3 stocks being higher and 3 stocks having offers lower than their last selling price.

Thursday, 12th September 2013 | Activity on the Trinidad & Tobago Stock Exchange picked up resulting in trading in 15 securities of which 5 advanced, none declined and 10 traded firm as 796,303 units traded valued at $8.24 million. There were two new 52 weeks high during the day as National Enterprises traded as high as 16.05 but closed lower at the end of trading and Scotia Bank closed at a new 52 weeks high at $70.03.

Jamaica’s Grace Kennedy fresh from a road show in Trinidad, which an IC Insider source indicates was well received, had volume of 200,000 shares changing hands for a value of $660,000, followed by Jamaica Money Market Brokers with a volume of 163,000 shares for $81,500. ANSA McAL traded 20,000 units at $66.28 with no change in price at the end of trading; National Enterprises contributed 117,336 shares valued at $1,878,749; Neal & Massy exchanged 32,616 units at $56; Sagicor Financial Corporation added 96,953 shares valued at $668,898. Trinidad Cement had 92,000 units changing hands firm at $1.95 and Clico Investment Fund share price gained a cent to close at $21.55, with a volume of 58,598 shares valued at $1,262,510.

Ansa Merchant Bank exchanged just 1,000 shares at $39 up 40 cents.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator was showing signs of a fluid market with bids for 4 stocks being higher and 2 stocks having offers lower than their last selling price.

Image courtesy of watcharakun/FreeDigitalPhotos.net

Wednesday, 11th September 2013 | In a low trading day, market activity on the Trinidad & Tobago Stock Exchange resulted in trading in 8 securities of which 2 advanced, none declined and 6 traded firm.

Market activity resulted in a volume of 372,425 shares valued at$2,043,195. Trinidad Cement had 310,000 shares changing hands for a value of $604,500 as the stock closed firm at $1.95, Sagicor Financial Corporation had 16,397 shares traded valued at $112,319. Agostini’s contributed 9,246 shares with a value of $159,494, while Scotiabank Trinidad & Tobago added 8,350 shares valued at $584,629, increasing by a cent to end the day at $70.02.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 24,000 shares valued at $516,940. CLICO INVESTMENT FUND remained at $21.54.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator was showing signs of a fluid situation for the market with bids for 2 stocks being higher and 2 stocks having offers lower than their last selling price

Tuesday, 10th September 2013 | Trinidad Cement was the dominant stock on the Trinidad stock exchange accounting for 692,044 shares valued at $1,349,440 as the price held firm at the end of trading at $1.94 cents and seems to have found support at that level.

On Monday, we indicated that Guardian Holdings appears to have bottomed. Today, it posted a small gain of a cent in trading at $14.01 with 11,276 shares valued at $157,879 changing hands and a bid at $14.01 for 6,500 units. Jamaica Money Market Brokers with a volume of 242,200 shares traded for $121,100 remained firm at 50 cents with buying interest remaining in tack. Neal & Massy Holdings contributed 36,622 shares with a value of $2,050,832, as the price remained firm at the end. Sagicor Corporation traded 3,720 units firm at 6.85.

Clico Investment Fund was the only active security on the Mutual Fund Market, posting a volume of 13,273 shares valued at $285,859 the price remained at $21.54. Angostura Holdings traded a small volume at $9.61 a new 52 weeks high.

Market activity resulted in trading in 12 securities of which 2 advanced, 0 declined and 10 traded firm.

Trading activity on the First Tier Market registered a volume of 1,002,793 shares crossing the floor valued at $4,014,587

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator has strengthened on Monday compared to Friday with bids for 10 stocks being higher with 5 stocks having offers lower than their last selling price.

Monday, 9th September 2013 | Guardian Holdings did not trade but now has a solid bid of 28,887 units at the last traded price of $14 suggesting that the recent sharp fall may have ended. As indicated in our PE Ratio report, the stock at these levels remain a very attractive buy.

There was trading in 11 securities of which 4 advanced, 1 declined and 6 traded firm as 470,117 units traded for a value of $2,587,325.

In actual trading, Angostura Holdings gained 9 cents to end the day at $9.60 with 1,032 units trading. Trinidad Cement was the volume leader with 361,100 shares changing hands for a value of $703,845 as the price fell 5 cents to end the day at $1.95. With an offer of 118,086 units at $1.95 and little in the way of bids, there could be further decline in the price before it hits bottom.

Jamaica Money Market Brokers with a volume of 40,000 shares traded for $20,000 remained firm at 50 cents. Republic Bank traded firm at $110.02 with 2,220 units changing hands; Scotiabank chipped in with 2,062 units at $70.01 for a 1 cent gain; Scotia Investments Jamaica contributed 20,000 shares with a value of $40,991 at it traded up a cent at $2.05; West Indian Tobacco added 3,799 shares valued at $448,280 while trading firm at $118 and looks as if it could climb higher in light of more positive news out of Jamaica on the state of the cigarette market demand. Clico Investment Fund in posting a volume of 33,850 shares valued at $729,220 put on 3 cents to end at $21.54.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator remains weak with a bid for only 1 stock that was higher with 2 with offers lower than their last selling price.

Related posts | T&T PEs: Better buys ahead